Dan,
Yeah, mine has one fold out bed. Its real simple to use, and the great thing is that even when its folded in, you still have full use of the rest of the camper. The bed is on the end next to the table. We can use the table without limitations when the bed is up or down. It takes me 5 minutes at most to fold out the bed and set it up. There are 2 bars that support the bed on the outside and when you fold the bed down, you put the 2 bars in place, use another support bar on the inside, set your mattress in place, done.
Mine is a 19', but I didn't get the light version. Its pretty heavy, but the 1500 Ram doesnt have any problems towing it, but I can definitely tell its back there. My truck does not have a "tow" setting either, just drive and overdrive, so I have to tow in drive so I do not wear the tranny out. I get about 6-7 MPG towing at 60-65 and its really turning some RPM's at that point, 3000 or more.
I dont think you would kill your F150, depending on trailer weight and the particular truck you have, but if you are taking longer trips, the lighter the better. I usually camp within 2 hours of home, and the one time I hauled it 4 hours, I said I wasnt doing that again until I got myself a diesel. On the other hand, and friend has a newer F150 with all the bells and a 22-23' camper (light model) and said it tows like a dream. So much of it has to do with tow capacity and trailer weight. Good luck on your camper hunt, let us know what you get.